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Apple surpasses Microsoft in Market Capitalization

je ne sais quoi (987177) writes | more than 3 years ago

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je ne sais quoi (987177) writes "Today Apple surpassed Microsoft in market capitalization, a metric of the perceived worth of a company. At around 2:30 pm EST, the total number of Apple shares were worth $227 billion, whereas Microsoft's were worth $226 billion. Both companies stock ended the day in the red, and have dropped in value since the greek crisis began, but Apple's share price has been falling less quickly. Of American companies, only Exxon-Mobil has a higher market cap at this point at $278 billion. According to the NYT:

This changing of the guard caps one of the most stunning turnarounds in business history, as Apple had been given up for dead only a decade earlier. But the rapidly rising value attached to Apple by investors also heralds a cultural shift: Consumer tastes have overtaken the needs of business as the leading force shaping technology.

"
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